UK Bank Feeds into Xero – a week after the release

Last week saw the arrival of the eagerly awaited UK automated bank feeds into Xero.

It is important to remember that Xero are phasing in automated bank feeds and this is the second step in the UK. The first was the bank feed from HSBC in May 2009. Although there have been a few disappointments from clients whose banks are not available in this stage, including my own bank, I personally feel that staging the process is the best way forward. Little hiccups that are bound to occur can be dealt with and solved much more efficiently.

It’s been over a week since the bank feeds were released and, as far as I know, the response has been very positive. Certainly my clients have been very excited about it and love the feeds.

I no longer have to keep asking the clients, who have banks feeds, to upload their online bank statements, something they often only want to do once a month. The feed comes through daily and I can reconcile as often as I want to, usually more often than monthly, because the transactions are then fresher in the client’s mind if I have any queries. This saves time for both of us.

Typically, I’m now impatiently waiting for the next phase so that I can offer this improved service to even more of my clients.

For Xero’s own blog on the bank feed release click here.

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